This website accompanies the book Only in Holland, Only the Dutch by Marc Resch. Information about the book, the Netherlands and up to date Dutch news.
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about the book:Taking you on a trip through his life in the Netherlands, Marc Resch makes us grateful for his powers of observation and capacity to remember all that assaults your consciousness and sub-consciousness alike. - XPat Review

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New fighter jet hope for long-legged Dutch

30 October 2008

Illustration from the book. © Onlyinholland.com.


Changes to the cockpit of a new fighter jet could offer hope to would-be pilots who are turned down for the Dutch air force because their legs are too long, an official said. "We had a list of operational requirements, and one of these was that Dutch pilots should fit in the cockpits," air force spokeswoman Sascha Louwhoff told AFP referring to the new aircraft currently under development.

"It may be funny, but it's true... Our pilots are obviously taller than Italian or Turkish pilots. Over the years, the Dutch people have grown taller, and we've had to keep up with that."
To this end, producer Lockheed Martin has agreed to make changes to the cockpit of the Joint Strike Fighter which is being jointly developed by nine nations including the Netherlands, said Louwhoff.
Currently, the Dutch air force is compelled to turn down aspirant pilots who are too tall in spite of their other qualifications, added Louwhoff. "There is a limit if you simply don't fit into the cockpit. Obviously this is not something we want to do, and we want to be able to choose from a bigger group," she said.

More at AFP

Global warming cools hopes for Dutch skating race

27 October 2008

© Museum van de Vaderlandse Geschiedenis



Global warming is taking a heavier toll than previously thought on a grueling 120-mile speedskating marathon over frozen rivers and canals linking 11 towns in Friesland. A study published Friday by the respected Netherlands Environmental Assessment Agency said the race is likely to be held only once every 18 years because of higher winter temperatures. Three years ago, it estimated the likelihood at once every 10 years.
Organizers insist on a minimum thickness of 6 inches of ice along virtually the entire route in the northern province of Friesland to ensure it is safe enough to carry thousands of skaters. The rule means that races have always been rare. Known locally as the Elfstedentocht, it has only been held 15 times since the first official event in 1909.

Despite the German occupation of the Netherlands during World War II, there were four races in the 1940s — three of them during the war.
There were two in the 1950s and then in 1963, which was recognized as the toughest ever because of a strength-sapping combination of icy temperatures, strong winds and snow. A gap followed of 22 years until back-to-back races in 1985 and 1986. Since then, the only race was in 1997, won by brussels sprouts farmer Henk Angenent in 6 hours and 49 minutes — less than half the original winner's time.

More at Associated Press

Masters' artworks assembled at Dutch museum for unique exhibit

24 October 2008

© Van Gogh Museum


Vermeer. © Van Gogh Museum

Vermeer, Rembrandt, Matisse and Picasso: 125 works by some of the world's most celebrated artists have been assembled in Amsterdam for a unique homage to the Netherlands' oldest art patron. Entitled "125 Favourites", the exhibition at the Van Gogh Museum boasts paintings, sculptures and other masterpieces from more than 30 Dutch museums, under one roof for the first time. Among the pieces on display: an array of portraits by 17th century Dutch painter Rembrandt van Rijn, French artist Henri Matisse's "The Parakeet and the Siren" from 1952, and Spaniard Pablo Picasso's "Femme en Vert" (Woman in Green) from 1909.
"For the first and only time 125 of the most important and significant acquisitions are currently being exhibited, from a large Chinese Bodhisattva (Buddhist deity) dating back to the 12th century to the famous Love Letter by (Dutch painter Johannes) Vermeer, purchased for the Rijksmuseum in 1892," said organisers.

More at AFP

3rd Edition Prepublication

21 October 2008 A prepublication of the soon to be published 3rd and updated edition of our book!

2500 international students will gather on November 8th in The Hague for the Day of the International Student. Marc Resch analyzes for them the ways their Dutch hosts have been perceived. 'Napoleon Bonaparte dismissed Holland as “a smoke-room full of obese cheese-mongers and devious bank cashiers.”' A new edition of his riveting Only in Holland, Only the Dutch will be released shortly. Read his prepublication on ScienceGuide.

Cannabis nets Dutch growers 2bln euros a year

19 October 2008



Clandestine cannabis growers in the Netherlands net two billion euros (2.7 billion dollars) a year - worth almost half the country's horticultural sector - a Dutch newspaper reported on Saturday. By comparison, according to NRC Handelsblad, country's horticultural sector generates about 5.5 billion euros in annual income. "There is major demand from England, Belgium, Germany, France, the Scandinavian countries and at the moment the Baltic countries," Max Daniel, the senior police officer who heads the Dutch agency charged with combatting cannabis-growing, told the newspaper. Police investigations suggested that about 500 tonnes of Dutch cannabis were exported each year.
In July, the Dutch government set up a committee to examine and coordinate the fight against cannabis production, an activity in constant growth and increasingly professionalised.

More at AFP

Dutch prepare to pump $12 billion into ING

19 October 2008 Dutch financial group ING is in talks with the Dutch government about a state-backed cash injection estimated to be worth up to 9 billion euros ($12.12 billion), the Sunday Times reported. The Netherlands' biggest listed bank, which said on Friday that it was about to announce its first-ever quarterly loss, is expected to announce a deal in the next 24 hours, the paper reported.
Dutch public broadcaster NOS also reported that ING was working on a plan over the weekend to boost its capital position and that details could emerge on Sunday. ING declined to comment on the reports on Sunday. A spokesman for the firm said on Saturday that ING was considering several options to shore up its capital position, including taking government money. The Dutch Finance Ministry and Dutch central bank declined to comment.
More at Reuters

Dutch citizens honor a Wehrmacht soldier

17 October 2008 The image of Germans in the Netherlands is showing a glimmer of hope after the atrocities of the Nazis: In the tiny village of Goirle, a civil initiative has decided to erect a memorial to the German World War II soldier Karl-Heinz Rosch. He gave his life to save two children.
The steel helmet is unmistakable: the Wehrmacht, the notorious armed forces of Nazi Germany. Most Dutch people recognize it immediately. Now the artist Riet van der Louw has created a statue of a soldier with the hated helmet. And despite objections, Dutch citizens have collected thousands of euros so that the controversial memorial can be cast in bronze and put on display. “We will not be honouring the Wehrmacht, but rather the humanity of a young German soldier,” said the leader of the memorial initiative, Herman van Rouwendaal.

The young German’s name was Karl-Heinz Rosch. Three days after he turned 18, on October 6, 1944, he did something on a farm in the southern Netherlands community of Goirle that would make him a hero in the eyes of many: Under fire from Allied forces, the German snatched up two defenseless children and brought them to safety. When he then ran after his retreating comrades, a bullet hit him under his arm — exactly where he had just been carrying the children.
Read the entire article at Welt Online

Global presidential poll: Netherlands

14 October 2008

US_flag


From Readers Digest:

55% of respondents in the Netherlands would be interested in moving to America if economic and political barriers were non-existent. 8% of respondents in the Netherlands support McCain while 92% support Obama. 13% of respondents in the Netherlands said they are pro-American government while 66% reported being neutral and 21% said they are anti-American government.

For more and the full article How the world sees the 2008 election click here

The Dutch go beyond protection

13 October 2008 "Strength in harmony." Those words were in red ink, followed by exclamation points. The other principles guiding Dutch Dialogue II this weekend were written in basic black and without benefit of emphasis: Strong levees don't have to be ugly, don't have to destroy the environment and don't have to do damage to the community.
With that in mind, a team of Dutch and American planners and architects proposed systems that would give this city far, far more than we have ever asked for with regard to safety from another catastrophic flood. They were not talking about demolishing homes to create green space. They were talking about constructing flood protection systems that offered more than mere protection.

New Orleans skyline. © Wikimedia Commons



A few months after Hurricane Katrina, Sen. Mary Landrieu, D-La., led a delegation to Holland to study how the Dutch manage to protect a country that lies mostly below sea level. David Waggonner, a New Orleans architect and planner, has kept the dialog alive with trips to Holland and frequent discussions with Dale Morris, a economic adviser with the Dutch embassy in Washington. This weekend, several dozen planning professionals worked to design ways to protect New Orleans. But what was most striking about their designs was their beauty.
Read the entire article at Nola.com

Also check out these previous entries:
Dutch help the 'Big Easy' face the future
Dutch to boost flood protection measures
What the Dutch know about deltas
Florida and Holland unite over shared challenges

Amsterdam Dance Event (October 22-25)

09 October 2008 The Amsterdam Dance Event is the worlds biggest club festival with over 700 DJ's and acts performing in 40 of Amsterdam’s finest venues, DJ cafés, record stores, lounges and art galleries. Now in its thirtheenth year, the ADE has grown into a business conference that attracts 1900 key professionals and a club festival audience of 72.000 people.
The Netherlands has given rise to some of the best known DJ’s and producers and for 4 days and nights you can see them all in one place, alongside the biggest international DJ’s / Acts and the hottest new talent, resulting in one of the most exciting and diverse programs in the electronic music realm.



Commercials and soundtracks are central to the 13th edition of the Amsterdam Dance Event conference. Electronic music is one of the most important cultural exports from the Netherlands and forms one of the most creative industries, which is an important theme for this year's Amsterdam Dance Event. Panels covering topics such as music synching and the online video revolution will be strengthened by renowned speakers include Jason Alexander (Music Director of CSI Miami / New York, US), Sergio Pimentel (Music Consultant, GB), Sandra Molzahn (Senator Musik GmbH, DE), Tobias Trosse (TVRL GmbH & Co KG, DE), Robert Sharp (MUZU, IR). In addition there will be a whole day of panels dedicated to the topic of Brands & Music at the Dylan Hotel.

Festival program
What do.... Addictive TV (GB), Adultnapper (US), Alexander Robotnick (IT), Armin van Buuren (NL), Artful Dodger (GB), ATFC (GB), Audio Bullys (GB), Dave Clarke (GB), David Guetta (FR), DJ Hell (DE), DJ Pierre (US), Don Diablo (NL), Dr. Lektroluv (BE), Eddie Thoneick (DE), Fedde le Grand (NL), François K. (US), Funk d’Void (GB), Funkerman (NL), Jackal and Hyde live (US), Joost van Bellen (NL), Josh Wink (US), Juan Atkins (US), Junior Jack & Kid Creme (BE), Laidback Luke (NL), Layo & Bushwacka! (GB), Legowelt live (NL), Lulu Rouge live (DK), Magda (PL), Michel de Hey (NL), Monika Kruse (DE), Mousse T (DE), Noisia (NL), Paul van Dyk (DE), Rednose Distrikt (NL), Richie Hawtin (CA), Robert Owens (US), Ron Carroll (US), Sander Kleinenberg (NL), Seamus Haji (GB), Sebastien Tellier live (FR), Secret Cinema LIVE (NL), Shapeshifters (GB), Shinedoe (NL), Stonebridge (SE), Sven Väth (DE), Terry Toner (NL), The Advent live (GB), The Hacker (FR), Tocadisco (DE), Tom de Neef (BE), Tom Novy (DE), Tom Trago (NL), Tomcraft (DE), Tommie Sunshine (US), Trentemøller DJ-set (DK), Troy Pierce (US) ....have in common? Well, you can find them all behind the decks during ADE 2008 alongside 650 other DJ’s & acts from all over the globe. And things even get better: they are just the top of the massive iceberg. ADE boasts a festival program with more than 700 DJ’s and acts in around 36 clubs & venues, so you should be getting ready and start preparing.

From the Amsterdam Dance Event website, which offers tons of information and links.

"Dutch revenge" in bank crisis draws Belgian ire

06 October 2008 The salvage of troubled financial group Fortis began as a model of brotherly cooperation among the Benelux countries at the heart of Europe, but is fast turning into an acrimonious divorce. A week ago, the Belgian, Dutch and Luxembourg governments agreed to rescue the cross-border banking and financial services company by injecting 11.2 billion euros ($15.5 billion) in a partial nationalisation of Fortis banks in the three countries. The solution held for just five days and the Netherlands nationalised most of the group's Dutch units for 16.8 billion euros on Friday after depositors and lenders fled, leaving the Belgians and Luxembourgers groping for a solution for the rump. Angry Belgian editorialists denounced "Dutch revenge", "Hold-up by Dutch authorities" and "How the Netherlands bought out Belgium for a pittance".
When Fortis joined forces with Royal Bank of Scotland and Spain's Banco Santander to buy ailing Dutch bank ABN AMRO last year, it sparked a rare burst of national pride in this linguistically divided country. For once, smaller Belgium - chronically split between its majority Dutch-speakers and minority French-speakers - appeared to have bested the Netherlands, often resented as an overbearing northern neighbour.
Read the entire article at Reuters

Financial crisis: Fortis' Dutch assets are nationalised

03 October 2008 Financial Crisis: Fortis' Dutch assets are nationalised
The Dutch operations of Fortis, Europe's largest victim of the credit crisis, have been nationalised in a €16.8bn (£13bn) deal aimed to calm investors in the troubled banking and insurance group.
The Netherlands government stepped in to take over the assets, including buying Fortis' interest in ABN Amro – the Dutch investment bank it jointly acquired last year in a consortium with Royal Bank of Scotland and Banco Santander. Shares in Fortis have tumbled almost 70pc this year as fears mounted that it had overstretched itself through its €24bn participation in the ABN Amro transaction. Yesterday's deal replaces an agreement struck on Sunday by the Belgium, Dutch and Luxembourg governments to rescue Fortis by pumping €11.2bn into the Belgian-Dutch bank. Under that deal, they would have taken a 49pc stake in the bank's operations within each of their borders.
This new transaction, which has been approved by the Dutch Central Bank, was announced after the Euronext market closed. Fortis' shares had earlier closed down 0.79pc to €5.42.
More at Telegraph.co.uk

Dutch government takes over banking giant
The Belgian government says the Dutch state will take control of troubled bank Fortis' Dutch operations -- including its recent purchase of ABN Amro. Belgian Prime Minister Yves Leterme has told reporters that the Dutch government was paying euro16.8 billion ($23bn) for the business. He says the sale would ensure the solvability of Fortis' core Belgian operations.
CNN
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» Rock The Bells hits Amsterdam in November The annual Rock The Bells Festival will be making its way to Amsterdam on 1st November 2008 as part of its international festival series. It is a chance to see some of the world's pre-eminent and veteran hip-hop stars performing on stage. This year's festival will launch in Prague on October 31st, before making its way to Amsterdam's Heineken Music Hall. Artists will perform in a string of other European cities, including Paris and London, before the concluding performance at Manchester's Apollo Theatre on November 12th. The line-up will include Mos Def, De La Soul and Nas, who has expressed his excitement at having the chance to perform in Europe's first Rock The Bells event.
More at Hostelbookers.com   comments |
» Two-day power cut causes 'baby boom' in Dutch community A small Dutch community has recorded a 44 percent rise in baby births nine months after a power cut plunged its 23,000 inhabitants into darkness for two days. In December last year, the blades of an Apache helicopter accidentally severed the high voltage cables providing electricity to the nine villages that make up the municipality of Maasdriel in the east of the country.
During the ensuing 50 hours of darkness, many inhabitants sought mid-winter hospitality in other towns, "but some found heat among themselves," town spokeswoman Annelies van Eijkeren told AFP. There were 26 babies born in Maasdriel in September - a 44 percent rise on last year's 18, she added.
More at AFP   one comment |
» Heineken Experience reopens 3 November 2008 The Heineken Experience, one of Amsterdam's most popular tourist attractions will reopen on 3 November 2008 after undergoing extensive remodelling and expansion. The new Heineken Experience has been designed to bring the values of the Heineken brand to life in an entertaining and contemporary way. Amongst many new elements, guests will experience an interactive journey through the brewing process and will have the opportunity to create and take home their own personalised bottle of Heineken. The working stables and iconic Heineken shire horses will also be accessible via a newly constructed "stable walk". Once the tour is over, guests will be able to relax with a refreshing glass of Heineken.
To announce the reopening, an online media campaign is also being launched today. Central to the campaign is a short film, apparently shot by two visitors who have sneaked into the new Heineken Experience to get an 'unofficial' preview. At heinekenexperience.com, consumers can keep track of these 'intruders'.
More at Marketwatch.com   comments |
» Dutch say unlocked bike not enticement to steal The Dutch Supreme Court has rejected the appeal of a bicycle thief who stole a decoy bike planted by police. Lawyers for the convicted thief — a repeat offender who was sentenced to 22 days in jail — had argued that leaving the bike unlocked amounted to entrapment. But the five-judge court has rejected that, saying the man wasn't personally targeted.
More at AP   comments |
» Dutch towns close coffee-shops to ward off 'drug tourists' Two Dutch towns said Thursday they planned to close their cannabis smoking coffee-shops after admitting that an influx of up to 25,000 French and Belgian "drug tourists" each week had become too much. Local authorities in southwestern Roosendaal and Bergen-op-Doom announced they could no longer cope with the "drug tourists" whose presence they blamed for traffic congestion, crime and unlicensed dealing. All eight coffee-shops in the two towns will shut, with closures beginning in February 2009.
Liberal drugs laws in the Netherlands allow people to carry five grammes of marijuana on their person without being prosecuted. Another border town, Terneuzen, announced Wednesday it would toughen its local by-laws on the sale of cannabis from May next year. Opening hours would be restricted and the amount each customer could buy would also be reduced.
AFP   comments |
» Dutch youths convicted of virtual theft A Dutch court has convicted two youths of theft for stealing virtual items in a computer game and sentenced them to community service. Only a handful of such cases have been heard in the world, and they have reached varying conclusions about the legal status of "virtual goods." The Leeuwarden District Court says the culprits, 15 and 14 years old, coerced a 13-year-old boy into transferring a "virtual amulet and a virtual mask" from the online adventure game RuneScape to their game accounts. "These virtual goods are goods (under Dutch law), so this is theft," the court said Tuesday in a summary of its ruling.
More at Associated Press   comments |
» Dutch flower exports wilt amid world economic downturn The Netherlands, the world's biggest flower exporter, has seen its bloom trade wilt as luxury items get passed over for essentials amid the global economic downturn. Flower exports to Britain, a major Dutch market, fell by almost a fifth in September, losing 19 percent from the same month in 2007, according to figures published this week by industry body HBAG.
What started as an obsession with the humble tulip, imported from Turkey in the 16th century, saw the Netherlands blossom into a world leader in flower cultivation and trade. The Dutch tulip mania of the early 1600s is often said to have been the world's first recorded speculative economic bubble.
Four-hundred years after the devastating burst of the tulip bubble - at the height of which single bulbs were worth several times people's annual incomes and were being traded for land, livestock and houses - Dutch flower exports now fetch billions of euros a year.
AFP   comments |
» Imperial Rome! Exhibition in the Kunsthal Rotterdam (11 October 2008 to 8 March 2009): The influence of the Roman Empire stretches up to the present. Western script, the weight system and the names of the months: all Roman inventions that still determine our daily lives. Kunsthal Rotterdam shows the wealth of emperial Rome and presents, with a collection of 450 objects, one of the largest exhibitions ever on classical culture. Numerous marble sculptures, refined jewelry, authentic terracotta, cameo, glasswork and coins give a clear impression of religious perception, external care, housing, trade and politics at the time of the Roman Empire (27 B.C.-395A.D.). Attention is also focused on the Netherlands, through which the northern frontier of the Empire ran in those days.
Roman Culture is brought to life through splendid mirrors, hair combs and dangling earrings that at the same time give a vivid impression of the way Romans were involved with outward appearance. Busts, coins and cameo show the rulers of the city, from August and Nero up to Constantine. Altarpieces, urns and ritual objects show religious perception and the belief in different gods amongst whom Hermes, the herald and messenger, and Bacchus, god of wine. Roman private life becomes visible through architectural models of an urban domus and a rural villa. Public life is also highlighted with gladiator fights, popular games and Roman bathing culture in the well-known Thermae.   comments |
» Bonaire police: "Missing Dutch girl's body found" Police sources on the Netherlands Antilles island of Bonaire say the body of missing Dutch girl Marlies van der Kouwe has been found. In the last 24 hours, police sealed off a stretch of land on the island in connection with their investigation into her disappearance and specialists from the Netherlands Forensic Institute were called in to search the area. The 24-year-old pharmacist's assistant vanished last month after leaving a beach party to travel home on her scooter.
Radio Netherlands   comments |
» Fortis shareholders to sue company bosses in Dutch court Shareholders of former Belgian-Dutch financial group Fortis, now dismantled and part-nationalised, are to sue three former company bosses in a Netherlands court for fraud, their lawyer told AFP Thursday. The shareholders have appointed a firm of advocates in Amsterdam to represent their claim against former Fortis chairman Maurice Lippens, chief executive Jean-Paul Votron and chief financial officer Gilbert Mittler, said Hendrik Jan Bos.
"We want damages of 10 euros per share for the period January to June this year when they misled shareholders by stating that all was well," he told AFP.
More at AFP   comments |
» Fortis to disappear as brand name from Netherlands Fortis will disappear as a brand name from the Netherlands, the chairman of the bank's board told Dutch BNR News Radio on Tuesday. Two weeks ago the Dutch government nationalized Fortis Netherlands in a joint action with the Belgian government and French bank BNP Paribas in order to prevent Fortis' collapse. More than half of Fortis Netherlands consists of ABN Amro holding it acquired in 2007. This has raised speculation that the Fortis brand name would be rolled into ABN Amro.
Monsters and Critics.com   comments |
» Scot drowned in Amsterdam river A Scottish tourist has drowned after falling from the deck of a hotel boat in Amsterdam. Police in the Dutch capital said the 27-year-old man had been drinking before he fell into the IJ on Saturday night. Another passenger and two policemen jumped into the water after him but were unable to save him. Police said they believed the death was an accident.
More at BBC News   comments |
» Netherlands frees up EU20 billion as crisis deepens The Dutch government will make 20 billion euros ($27.2 billion) available to "fundamentally sound and viable'' financial firms to boost liquidity and strengthen capital amid a worsening global credit crunch. The Netherlands authorities are determined to safeguard the stability of, and confidence in, an "essentially sound'' financial system facing big external shocks, the Dutch central bank said late yesterday. The measures include providing liquidity and strengthening the capital of banks and insurers, it added.
Governments and central banks in the U.K., Belgium, Germany and Iceland have thrown lifelines, granted emergency loans and seized control of banks in an attempt to prevent a financial meltdown and restore confidence.
More at Bloomberg   comments |
» Dutch Finance Minister criticises US attitude The Dutch Finance Minister Wouter Bos has criticised the US government's attitude to the financial crisis at the International Monetary Fund meeting in Washington. He says the Americans see the problems on the financial markets as a business hazard and not as an important economic problem that has to be resolved. Mr Bos was surprised that top officials represented the government at important moments during the conference. He says the British do realise there is a need to monitor the financial sector more closely, but the Americans do not.
Radio Netherlands   comments |
» No child allowance for Dutch drop outs Dutch parents who fail to send their 16 and 17-year-olds to school could lose their child support allowance. Reliable sources say the Family and Youth Minister André Rouvoet and Deputy Social Affairs Minister Ahmed Aboutaleb will present their plan to the cabinet on Friday. Since last year, all under-18-year-olds without a start qualification are obliged to go to school.
Radio Netherlands   comments |
» 'Whore miles' plan for Dutch prostitutes who behave Prostitutes in the Dutch city of Eindhoven are to be awarded "credits" in return for good behaviour under a new scheme to encourage them to abandon the oldest profession. The prostitutes will receive so-called "street miles" that they can use to acquire free designer clothes or furniture, provided they take up an offer by the city council to take steps leading to a career change and a safer lifestyle.
Eindhoven's designated sex work zone is due to close by 2011. Amsterdam and other Dutch cities are slowly shutting down their red light districts, but Eindhoven is unusual in pioneering material incentives to tempt women into thinking about an economic alternative to prostitution. Many of the city's sex workers are also heroin addicts. The city will fund assertiveness classes to help sex workers sever ties with their pimps, as well as workshops, advice and courses on how to find new jobs.
Read the entire article at The Independent"   comments |
» Van Persie and Sneijder in feud The Netherlands are as renowned for their feuding as they are for their Total Football, and it seems that Robin Van Persie and Wesley Sneijder are about to add to that ignominious legacy... The Dutch pair have embarked on a war of words, stemming from a dispute over a free-kick that came in the Euro 2008 quarter-final against Russia. Sneijder was the team's allocated dead-ball taker, only for Van Persie to attempt to wrest the ball from his grasp. The Real Madrid midfielder, recovering from an injury sustained against Van Persie's Arsenal, told the Dutch newspaper Het Parool that Van Persie has 'broken agreements', and that he wanted a showdown.
More at Goal.com   comments |
» Dutch government launches investigation into Fortis Belgian-Dutch banking giant Fortis, which was rescued with partial nationalisation and an injection of €11.2 billion by the Benelux governments, has now become the target for an investigation by the Dutch finance ministry into the reasons for it collapsing. As the near collapse of Fortis sent shockwaves through the Belgian-Dutch financial industry, Dutch finance minister, Wouter Bos told the parliament on Tuesday that a full scale investigation will be launched as certain information has ''come to light'' regarding to the take over of ABN AMRO a year ago by Fortis. The ministry will try to find out whether Fortis had disclosed the risk involved which were not reflecting in the balance sheet when it applied for authorization from the ministry to acquire ABN AMRO. He also added that, had his ministry the information which it now possesses, it would not have given the 'no objection' to the acquisition of ABN AMRO.
Read the entire article at domain-b.com.
Of further interest: Fortis Fortitude at Forbes.com.   comments |